Name: Alok Chugh
Firm Name: EY Kuwait – Al-Aiban, Al-Osaimi & Partners
Country: Kuwait
Practice Area: Tax

Telephone: + 965 2 2955 104
Fax: +965 22 456 419

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Professional Biography:

Alok is a partner with EY’s Middle East practice and is based in Kuwait. He has lived and worked in Kuwait for over 24 years and has detailed knowledge of business and taxes in Kuwait. He has considerable experience in advising entry-level strategies for foreign multinationals wishing to do business in Kuwait. Alok has been involved in a number of consulting assignments (including cross-border planning, application of double tax treaties and the efficient handling of tax and commercial affairs) for project due diligence, business paper preparation or review, and structuring operational activities).

Alok is a member of the Institute of the Chartered Accountants of India and is an active member and frequent lecturer at the American Business Council, French Business Council, British Business Forum and Canadian Business Council in Kuwait. He is also on the Board of the American Business Council in Kuwait.

Alok has been consulted by various government organizations in Kuwait on the practical implementation of various regulations in Kuwait, including the Ministry of Finance and National Offset Company.

Alok also works closely with the Kuwait Direct Investment Promotion Authority (KDIPA) and a number of other government institutions.

Firm Profile  

EY in Kuwait has been operating since 1952 and is the largest accounting and consulting firm in the country. Our 340 professionals are available to serve clients anywhere in Kuwait working in both Arabic and English. EY professionals in Kuwait can provide expert advice on every business issue. We are fully integrated with Ernst & Young Middle East in terms of methodology, training and quality control. The Kuwait office is supported by resources of Ernst & Young Global, which has over 152,000 professionals working out of 700 offices in over 140 countries.

Ernst & Young, Kuwait enjoys the premier position as tax advisers in Kuwait. With 2 specialist tax partners, 4 directors and a team of 40 tax specialist staff we service approximately 70% of registered taxpayers in Kuwait. We have an extensive experience of assisting companies in managing their tax compliance in Kuwait in the most efficient manner, advising on tax treaty matters and providing for entry-level strategies to foreign companies intending to carry on business in Kuwait.

Key achievements/experience of the firm

·         Over 70% share of the of tax services in Kuwait

·         Over 50 years of experience in Kuwait

·         A large team of Tax professionals with one Tax partner, five Tax directors and a team of 40 other experienced staff, including several bilingual staff, who are dedicated to handling matters with the Kuwait tax authorities

·         Assisted 4 out of 9 investors who have been granted license under Law 116 of 2013 (foreign investment law)

EY Kuwait offers invaluable “on the ground” service to companies doing business in Kuwait, and can provide a full range of tax services, including:

·         Tax Planning and Tax Advisory Services

·         Tax Compliance Services, including assistance with respect to tax audits carried out by the Kuwait Tax authorities

·         Tax Accounting and Risk Advisory Services

·         Cross-Border Corporate Income Tax Advisory

·         Transfer Pricing  

·         Services related to the implementation of Foreign Account Tax Compliance Act (FATCA)

·         Human Capital Services

·         Advice related to the offset program in Kuwait

·         Advisory services related to setting up efficient structures in Kuwait (including assistance with the application process for setting up entities under the New Companies Law in Kuwait and the Foreign Direct Investment Laws in Kuwait)

Our large market share and over 50 years’ presence in Kuwait has given us extensive experience in dealing with tax issues arising in Kuwait and assisting our clients in managing their tax affairs.